Northern Trust (NASDAQ:NTRS) PT Raised to $108.00 at Wells Fargo & Company

Northern Trust (NASDAQ:NTRS) had its target price increased by Wells Fargo & Company from $92.00 to $108.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

Several other research firms have also recently issued reports on NTRS. UBS Group boosted their target price on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Barclays increased their target price on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday. Evercore ISI raised their target price on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday. Morgan Stanley upped their price target on Northern Trust from $93.00 to $97.00 and gave the stock an “underweight” rating in a report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $99.33.

Northern Trust Stock Performance

NTRS stock traded down $0.45 during trading on Thursday, hitting $102.34. 51,234 shares of the company traded hands, compared to its average volume of 1,305,197. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust has a 1 year low of $63.43 and a 1 year high of $104.25. The stock’s 50-day simple moving average is $90.51 and its 200 day simple moving average is $86.53. The company has a market cap of $20.64 billion, a PE ratio of 14.06, a P/E/G ratio of 1.65 and a beta of 1.08.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio is presently 41.04%.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the sale, the executive vice president now owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares in the company, valued at $2,552,052.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,738 shares of company stock valued at $1,191,388. 0.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Olistico Wealth LLC purchased a new stake in shares of Northern Trust in the second quarter valued at about $25,000. Innealta Capital LLC acquired a new position in Northern Trust in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC purchased a new stake in shares of Northern Trust in the 2nd quarter valued at approximately $30,000. Versant Capital Management Inc increased its holdings in shares of Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 337 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Northern Trust in the third quarter valued at approximately $39,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.